Paytm Update: Paytm shares have seen a rise in Tuesday’s trading session. Even today the company’s shares are trading up by 5 percent. Today there is a fresh upper circuit in the company’s stock.

Today the stock rose 4.98 percent to Rs 449.30 on BSE. This is its upper circuit limit. Today there was a highly volatile trend in the shares of fintech firms. It fell to the day’s low of Rs 413.55. Later the company’s stock made a comeback and rose by 1.18 percent to Rs 433.

Despite a weak start, the company’s shares on NSE reached the highest trading permissible limit of Rs 449.50 for the day, up 4.99 per cent.

Let us tell you that the shares of One97 Communications had touched the upper circuit limit on Monday and Friday also.

Vijay Shekhar Sharma left the post of president

Vijay Shekhar Sharma on Monday stepped down as part-time non-executive chairman of Paytm Payments Bank Ltd. After this the board of the bank has been reconstituted. PPBL will soon begin the process of appointing a new chairman, it said in a filing on Monday.

RBI had taken action against Paytm Payments Bank due to non-compliance. In a regulatory action last month, the central bank had barred PPBL from accepting fresh deposits or top-ups in customer accounts, wallets, Fastag and other instruments after February 29. Its deadline was extended to 15 March 2024.

One97 Communications said in a press release on Monday that its subsidiary Paytm Payments Bank Ltd (PPBL) has appointed former Central Bank of India Chairman Srinivasan Sridhar,

retired IAS officer Debendranath Sarangi, Bank of Baroda Ashok Kumar Garg, and former IAS officer Rajni has reconstituted its Board of Directors with the appointment of Sekhari Sibal, former Executive Director.

One97 Communications Limited (OCL) owns the Paytm brand. One97 Communications holds 49 percent of PPBL. Vijay Shekhar Sharma has 51 percent stake in the bank.

The post Paytm Share : Big news came on Paytm yesterday, know what is the condition of Paytm share today. first appeared on Rightsofemployees.com.

Good news has come for Paytm UPI users. Reserve Bank of India has asked NPCI to take necessary steps to maintain Paytm’s UPI service. While issuing an advisory to NPCI, the central bank said that in order to maintain the service through Paytm app, NPCI should provide the facility of certification of 4-5 banks having the capacity to handle high volume UPI transactions as payment service providers.

It is noteworthy that as per the instructions of the Reserve Bank of India, Paytm Payments Bank will be closed from March 15. In such a situation, Paytm will need a Third Party Application Provider (TPAP) to continue the UPI transactions without any interruption, the facility of which will be provided by NPCI approved banks.

Customers will get convenience in transferring accounts

This order of RBI will help customers in transferring UPI account. To keep the UPI account active, it needs to be linked to the bank account. Currently, there are many customers who use UPI through Paytm Payments Bank. Paytm Payments Bank will not be able to provide services after March 15. If a Paytm Payment Bank customer does not link his UPI account with another bank before the 15th, then he cannot continue the transaction further.

You will get option of 4-5 banks

RBI has asked NCPI to help Paytm so that the services of Paytm UPI remain operational. UPI transactions are done across the country under the leadership of NCPI. RBI has said that NCPI should help in providing the option of 4 to 5 banks to Paytm users, so that they can easily link their UPI account to the new bank and continue their UPI service after March 15.

Got extension till 15th March

The Reserve Bank of India (RBI) had earlier announced to ban the services of Paytm Payments Bank after February 29. Later, 15 more days were given to continue the services. Earlier, RBI had ordered Paytm Payments Bank to stop taking new deposits and credit transactions after February 29. Now Paytm Payments Bank has been given time till March 15, 2024.

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